medical device connectivity Market Research Report Including SWOT Analysis, PESTELE Analysis, Drivers, Restraints, Global Industry Outlook and Key Players Analysis By 2028

Today’s world is interconnected globally via a host of digital systems and networks – from the internet to the Internet of things. The power of connectivity has revolutionized the healthcare sector making advanced and preventive healthcare accessible to all across the globe. The modern world is defined by smart devices and their increasing penetration across various end-use sectors including medical field. From wearable technology to electronic health records, the interconnected healthcare infrastructure can open up new opportunities for advanced care and provide more accessible options. Access to precise and updated patient information plays a crucial role in identifying and treating patients in a more effective and efficient way. Accurate documentation of patient assessments are critical in order to avoid inconsistencies in documentation, delayed data entry, and prevent damage to quality and integrity of patient data. Medical device connectivity helps to eliminate these hindrances by providing healthcare professionals with comprehensive, accurate, and current patient assessments and records on-demand.

Rising need for automatic data entry systems in healthcare facilities is expected to further boost global medical device connectivity market growth. Increasing implementation of health information exchange solutions in the healthcare industry is also expected to boost market growth going ahead.However, concerns regarding cyber-attacks and high deployment costs of medical device connectivity systems are key factors expected to hamper growth of the global medical device connectivity market to a certain extent during the forecast period.

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Some Key Highlights in the Report

The medical device integration segment is expected to lead in terms of revenue share and register a significantly robust CAGR during the forecast period. Integration of medical devices is a software-based solution that remotely collects and combines the patient’s vital signs through various medical devices at the same time, and deployment of this software has been increasing due to convenience in terms of usage, which is expected to drive revenue growth of this segment going ahead.

Rising adoption of medical device connectivity systems to incorporate medical devices with Electronic Medical Records and Electronic Health Records is driving revenue growth of implementation & integration segment.

The wireless segment is expected to lead in terms of revenue share contribution to the global market during the forecast period. Wireless systems enable offering of high level of healthcare service and improved treatments as doctors constantly receive real-time information about patients, and this is a key factor driving preference across healthcare sectors.

The hospital segment is expected to lead in terms of revenue share among the end-use segments during the forecast period. Rising adoption of Electronic Health Records (EHRs) in hospitals is projected to fuel revenue growth of this segment during the forecast period.

North America is expected to lead among other regional markets in terms of revenue share contribution during the forecast period due to increasing patient safety regulations in hospitals in countries in the region. In addition, presence of a large number of healthcare information and technology companies is expected to support growth of the market in the region going ahead.

Key market players include Infosys Limited, Cisco Systems, Inc., Medtronic plc, Cerner Corporation, Digi International Inc., Lantronix, Inc., Masimo Corporation, Stryker Corporation, Qualcomm Inc., and Baxter International Inc.

In January 2021, Stryker Corporation announced that it had acquired OrthoSensor, Inc., which is a privately owned firm that utilizes intelligent tools and data to ensure that surgeons and hospitals make data-driven, evidence-based assessments. The latter is deemed a pioneer in the joint replacement sensor technology and its offerings are designed to supplement Stryker’s range of smart technologies along with the make smart robotics device.

Emergen Research has segmented the global medical device connectivity market on the basis of solution, service, technology, end-use, and region.

Solution Outlook (Revenue, USD Billion; 2018–2028)

Interface Devices

Telemetry Systems

Connectivity Hubs

Medical Device Integration

Service Outlook (Revenue, USD Billion; 2018–2028)

Training

Support & Maintenance

Consulting

Implementation & Integration

Technology Outlook (Revenue, USD Billion; 2018–2028)

Wireless

Wired

Hybrid

End-use Outlook (Revenue, USD Billion; 2018–2028)

Ambulatory Care Centers

Hospitals

Diagnostic & Imaging Centers

Home Healthcare Centers

Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Italy

Spain

BENELUX

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Rest of MEA

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